i am posting MKTX as both a set-up and an active short (depending, of course, on an objective entry tomorrow since this post is after-hours). this is another one of the investment brokerage stocks that i’ve warned about recently. the sector continues to sell-off since my post on the sector last week and MKTX apparently seems unscathed so far. however, a chink in the armor would be this recent multi-year uptrend-line breakdown and re-test, which offers an objective short entry at or near current levels.
on the daily chart below, you’ll see a small gap not far above the uptrend line which i think is an appropriate stop level (stop placed just above the 34.35 area). although at about 6.5% above current levels, that’s a bit on the liberal side for a stop, this trade still offers a 6:1 R/R ratio to the primary target of 20.20. however, please don’t ever take a trade that does not fit your own personal risk tolerance or trading style. daily and weekly charts below.
